The Collaborative International Dictionary of English v.0.48:

Waver \Wa"ver\, n. [From Wave, or Waver, v.]
   A sapling left standing in a fallen wood. [Prov. Eng.]
   --Halliwell.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Waver \Wa"ver\, v. i. [imp. & p. p. Wavered; p. pr. & vb. n.
   Wavering.] [OE. waveren, from AS. w[ae]fre wavering,
   restless. See Wave, v. i.]
   [1913 Webster]
   1. To play or move to and fro; to move one way and the other;
      hence, to totter; to reel; to swing; to flutter.
      [1913 Webster]

            With banners and pennons wavering with the wind.
                                                  --Ld. Berners.
      [1913 Webster]

            Thou wouldst waver on one of these trees as a terror
            to all evil speakers against dignities. --Sir W.
                                                  Scott.
      [1913 Webster]

   2. To be unsettled in opinion; to vacillate; to be
      undetermined; to fluctuate; as, to water in judgment.
      [1913 Webster]

            Let us hold fast . . . without wavering. --Heb. x.
                                                  23.
      [1913 Webster]

            In feeble hearts, propense enough before
            To waver, or fall off and join with idols. --Milton.
      [1913 Webster]

   Syn: To reel; totter; vacillate. See Fluctuate.
        [1913 Webster]

WordNet (r) 3.0 (2006):

waver
    n 1: someone who communicates by waving
    2: the act of pausing uncertainly; "there was a hesitation in
       his speech" [syn: hesitation, waver, falter,
       faltering]
    3: the act of moving back and forth [syn: waver, flutter,
       flicker]
    v 1: pause or hold back in uncertainty or unwillingness;
         "Authorities hesitate to quote exact figures" [syn:
         hesitate, waver, waffle]
    2: be unsure or weak; "Their enthusiasm is faltering" [syn:
       falter, waver]
    3: move hesitatingly, as if about to give way [syn: falter,
       waver]
    4: move or sway in a rising and falling or wavelike pattern;
       "the line on the monitor vacillated" [syn: fluctuate,
       vacillate, waver]
    5: move back and forth very rapidly; "the candle flickered"
       [syn: flicker, waver, flitter, flutter, quiver]
    6: sway to and fro [syn: waver, weave]
    7: give off unsteady sounds, alternating in amplitude or
       frequency [syn: quaver, waver]